The most recent subsurface mineral public offering, held on Monday, raised $1,459,502 in revenue for the Saskatchewan government. Lithium was the key driver of the bids that were received, with all ten of the blocks up for bidding prospective for the mineral.
The top bid was $894,684 for a 1,192-hectare block five kilometres southwest of Stoughton. The amount was paid for by Hub City Lithium, a joint venture of ROK Resources and EMP Metals Corporation.
Hub City was the big bidder of the day Monday, as they also purchased five other permits in the Stoughton area, totalling 2,292 hectares. In all, the company spent an additional $301,800 on the permits.
Four more permits in the Stoughton area were acquired by Synergy Land Services. They bid $81,548 for the permits, totalling 647.472 hectares.
The lone other offering that was bid on was a 1,037-hectare block near Kerrobert. NRG Land Solutions were the successful bidders.
The third of the three scheduled subsurface mineral public offerings for the current fiscal year will be held on February 12th.
*This article was updated Dec. 1, 2023 to reflect changes to the initial release from the provincial government. The information provided initially indicated Hub City Lithium had purchased eight permits, and the permit located near Kerrobert was purchased by Prairie Land & Investment Services. The information initially provided in the release also had the amount of revenue raised by the public offering incorrect.
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